Indonesian shares bounced back from morning losses on Thursday to gain one percent at the close thanks to late bargain-hunting in commodity-related stocks, dealers said. The Jakarta Composite Index added 17.78 points to 1,787.67 on moderate volume, from an intraday low of 1,709.40 amid global market turmoil due to fears for US financial stability.
"After a worrying morning session, the main index managed to shift into positive territory as investors switched their investments to commodity-related stocks," a trader told Dow Jones Newswires. The main index is down 17 percent since the start of September. The rupiah ended weaker at 9,410 to the dollar against 9,425 previously.
Top gainers included nickel miner Inco, which rose 20 percent to 2,975 rupiah. Palm oil producer London Sumatra gained 14 percent to 3,550, and rival bakrie Sumatra added 10 percent to 770.
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